The third International Mining and Technology Expo, MINTEX Expo, was recently held at the Millennium Hall. In the expo, which was described as a feast of minerals, a variety of beautiful and precious and ornamental minerals, gold, coal, industrial and construction materials, and other minerals were presented in various forms. Many types of minerals, whose names we have never heard or seen, were presented and visited.
The expo, which was held for four days from November 23 to 26, 2024, was attended by government bodies, many developers involved in the mining sector, value-adders, buyers, exporters, and many local and international visitors.
President Taye Atsike Selassie and other high-ranking officials attended the opening of the expo, which featured a wide range of activities including promoting minerals, creating market linkages for mineral products, showcasing and promoting technology, and holding various forums on the opportunities, challenges, solutions, and successes of the mining sector.
President Taye, while opening the Expo, announced that Ethiopia should establish a system to develop and utilize its mineral resources in a modern way. He indicated that the country should adopt a modern system and use technologies to identify, develop and utilize its mineral resources; and investors engaged in the sector should widely use technologies that enable knowledge transfer.
According to the President, mineral resources are crucial for increasing foreign exchange earnings and for the country’s overall economic growth. In addition to the government, investors and stakeholders should help develop the mining sector.
Among the participants in the Expo was Jimiti Coal Production Enterprise, which is engaged in coal development. The enterprise located in the Jimma Zone of the Oromia Regional State was established three years ago. It produces coal and supplies it to cement and steel factories.
According to the company’s sales expert, Dawit Kitila, the Company was established to substitute the coal imported from foreign countries at high foreign exchange rates. It produces natural coal with a calorific value of 4,500 to 5,000 calories. It produces more than 3,000 tons of coal per day and supplies it to factories at a reasonable price.
He mentioned that the company is producing coal, which was previously imported at high foreign exchange rates, locally; and indicated that the benefits of producing coal locally are also high for the country.
The company’s presence at the expo has many benefits, especially in terms of creating market linkages. There are many people who are unaware of the fact that Ethiopia has many types of minerals that will help investors find opportunities to work with the company.
Dawit said that the company wants to expand its coal business by opening more branches in the future and plans to export coal. The government and other relevant parties should support it for this.
Another participant in the expo is MHNW, established in 2022. It exports industrial, precious and ornamental minerals to the foreign market.
Negash Yirga, founder of the company, said that they export lithium, copper, manganese and other minerals used as industrial inputs, as well as precious and ornamental minerals such as ruby and opal.
“Our participation in the expo helped us attract domestic and foreign participants and visitors and promote minerals,” he said, adding that it also helped them to have close relations with domestic and foreign visitors who are needed in connection with their work.
According to him; these minerals are found in different parts of the country. Lithium, copper and manganese are often found in the Afar and Oromia regions. Gemstones and precious metals such as ruby and opal are found in Amhara region, and minerals such as fluorite are found in Somali region.
He said that the company is expanding its market by exporting its minerals to different countries; precious metals are exported to Europe, Turkey, Dubai, Germany and Sweden. Industrial metals such as lithium and copper are also exported to China and occasionally to the US market.
The company currently exports most of the minerals other than gemstones in their raw form without adding value; but it receives gemstones from producers and processes for sale. He also stated that in the future, it plans to add value and carry out the work itself.
Adding value to minerals requires technology and especially importing machinery. Now, the Ministry of Mines is focusing on creating a favorable environment for the production of minerals that can be produced domestically. Especially if the minerals are exported value added, the price will be four to five times higher than the current price.
The countries that buy the minerals are very aware of the minerals and want to be supplied with quality minerals. The sector is still untapped and can be used by many people and can create job opportunities for many.
“Participating in the MINTEX Expo has helped us promote our products and create market connections. It has created opportunities for us to attract more customers and partners,” he said. He indicated that the company will continue to focus on adding value to minerals and offering them to the foreign market, and that it will work to strengthen its capabilities and benefit itself and the country.
Museum Jim Stone Trading is another participant in the Mineral Expo. According to the company’s sales expert, Rahmet Taju Abdella, the company produces and sells many types of precious minerals to the foreign market.
It processes and sells minerals such as jasper, obsidian, amethyst, agate and others to the foreign market. These minerals are made with gold and silver and are used to make earrings, necklaces and bracelets. After the minerals are processed into jewelry, they are sent to the markets of India, China and other Asian countries.
Adding value to minerals and processing them into jewelry and offering them to the foreign market is a job that benefits and encourages not only the individual but also the country. The situation of precious and jewelry minerals being illegally exported from the country in various ways is causing the foreign market to freeze. She pointed out that there is a need to raise awareness by focusing on preventing illegality.
She stated that precious metals are widely available in various parts of the country and that there is no problem of supply; but the peace and stability problems seen in some areas have created obstacles in the work.
She mentioned that they use various platforms to promote these products and that they sell them in the online market; finding a market is the main problem, and when the market is found, there is a shortage of products so that the work requires more effort.
According to Rahmet, since the expo attracted many domestic and foreign visitors, it could create a good opportunity for the company to promote and sell its products and find a market. This is the third time that the company participated in the expo. She recalled that the first year’s expo was very lively, on which they introduced themselves a lot. The second and current expos were also cool.
While the public’s understanding of minerals has changed, there is still much work to be done; especially in comparison to other minerals, the work being done on precious and ornamental minerals has been weak. Therefore, these minerals should be given attention wherever they are produced.
Rahmet said, “When precious and ornamental minerals are value added and exported to the foreign market, they have a price increase of about 50% to 60% compared to the raw materials; they can earn a lot of foreign exchange. Many people do not know that these minerals are found in Ethiopia, and therefore do not use them.”
The only minerals known are gold and silver. Precious minerals are not seen as minerals, but as stones. Therefore, it is necessary to work on creating awareness among the public. “When we export the minerals, they can be sold at a higher price than gold; but when they are sold in the domestic market, they are sold at a lower price,” she explained.
The other participant is a company called Kauser Precious Minerals Export and Import. The company exports precious and ornamental minerals as well as industrial minerals to the foreign market. It sells precious and ornamental minerals such as opal, sapphire, and emerald on an online market.
According to Huda Abdal Fata, a sales expert of the company, it supplies industrial minerals such as tantalum and coal to various factories. It receives these minerals from various producers and supplies them to the factories.
She said that the company’s presence at the expo enabled it to promote these products and create market connections, adding that the expo enabled them to sell products and generate many foreign and local customers.
BY BACHA ZEWDIE
THE ETHIOPIAN HERALD WEDNESDAY 4 DECEMBER 2024
